Wednesday, July 15, 2015

Receptos Acquired By Celgene For $7.2 Billion

San Diego-based Receptos>, a developer of treatments for inflammatory bowel disease and multiple sclerosis, has been acquired by Celgene, in a deal worth $7.2 billion, the two said late Tuesday. According to Celgene, it will pay $232.00 per share in cash for Receptos, to help it accelerate its growth. Celgene said that the acquisition of Receptos "significantly enhances" its Inflammation & Immunology portfolio, and also diversifies the company's revenues.

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